Short Interest in Semtech Co. (SMTC) Decreases By 26.5%

Semtech Co. (NASDAQ:SMTC) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,485,642 shares, a decline of 26.5% from the February 15th total of 2,020,571 shares. Based on an average daily volume of 438,238 shares, the short-interest ratio is presently 3.4 days. Approximately 2.3% of the shares of the company are sold short.

Semtech (SMTC) opened at $34.95 on Wednesday. Semtech has a twelve month low of $31.30 and a twelve month high of $41.95. The firm has a market capitalization of $2,296.00, a price-to-earnings ratio of 50.65, a P/E/G ratio of 4.64 and a beta of 1.41. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32.

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In other news, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $38.98, for a total value of $97,450.00. Following the transaction, the insider now owns 210,372 shares of the company’s stock, valued at $8,200,300.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Michael Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $35.78, for a total value of $357,800.00. Following the completion of the transaction, the executive vice president now directly owns 84,066 shares in the company, valued at approximately $3,007,881.48. The disclosure for this sale can be found here. In the last three months, insiders sold 114,034 shares of company stock worth $3,912,067. Corporate insiders own 2.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in Semtech in the third quarter valued at $133,000. Teacher Retirement System of Texas acquired a new stake in Semtech in the third quarter valued at $204,000. Stifel Financial Corp acquired a new stake in Semtech in the third quarter valued at $209,000. Xact Kapitalforvaltning AB acquired a new stake in Semtech in the fourth quarter valued at $215,000. Finally, Elkfork Partners LLC acquired a new stake in Semtech in the fourth quarter valued at $215,000. 97.70% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on SMTC shares. BWS Financial started coverage on Semtech in a report on Monday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price objective on shares of Semtech in a report on Sunday, November 19th. B. Riley reaffirmed a “buy” rating and set a $46.00 price objective (down previously from $48.00) on shares of Semtech in a report on Monday, November 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $34.00 price objective on shares of Semtech in a report on Thursday, November 30th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price objective on shares of Semtech in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.89.

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Semtech Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.